Famous cryptocurrency analyst Michaël van de Poppe talked about the latest situation of Bitcoin in his statement.
According to the analyst, the BTC price experienced a great increase as expected before the halving and even performed better than previous halvings.
Van de Poppe said that within this cycle, the Bitcoin price may rally from $ 300,000 to $ 600,000 and this may be the peak point. Currently, the cryptocurrency world is excitedly waiting for the halving event, which will take place in approximately 21 days.
The analyst is not in a rush for the $100,000 target, which has been talked about in recent weeks. The analyst says that this target will not be realized suddenly, and the 4-year BTC price cycle is still valid. According to the analyst, areas around $60,000 will continue to be support, and areas near the current all-time high will continue to be resistance.
In addition, speaking about the overall cryptocurrency market market value, the analyst argued that we may remain in the consolidation phase for a while before the rally continues.
On the altcoin side, Van de Poppe announced that cryptocurrencies in the Ethereum ecosystem are expected to perform well, including ATOM and DOT.
*This is not investment advice.